209 + 215 Cheatham Street | San Marcos, TX 78666 | Listed at $950,000
Seller Financing Available CD-5D Commercial Lot
.65 Acre Commercial Lot
ABOUT THE PROPERTY
These two parcels are zoned Character District 5 Downtown (CD-5D), one of San Marcos’ most flexible urban mixed-use designations. CD-5D supports higher-density residential, live-work, and mixed-use development, providing investors an opportunity to create a scalable, fee-simple urban project in the highly visible and rapidly appreciating South Square District.
Combined site area: ~0.65 acres (~28,300 sq ft)
Prominent visibility on Cheatham & McKie with over 150 feet of road frontage
City water, wastewater and electric
Recent survey included in due diligence materials
Seller financing available
Development Potential
The CD-5D zoning and contiguous site footprint provide flexibility for a variety of fee-simple or rental development strategies including:
Townhomes (fee-simple for resale)- multi-story, owner-occupied urban homes that can be sold individually; attractive for developers pursuing a resale strategy with strong buyer demand in walkable neighborhoods.
Live-work- ground-floor commercial or flexible studios with residential above.
Multifamily - adaptable rental units targeting long-term income.
Mixed Use / Shopfront- adaptable uses that leverage pedestrian traffic and proximity to restaurants, nightlife, and the river.
Because the parcels are contiguous, investors can design a unified site plan that consolidates parking, utilities, access, and circulation across both lots- increasing design flexibility, phased development, and shared infrastructure.
Location
~½ mile from the San Marcos Square, ~1 mile from Texas State University, and close to the San Marcos River
Situated in South Square, a dynamic redevelopment area featuring new restaurants, nightlife, and creative commercial concepts
Quick access to I-35 and Highway 123, placing Austin and San Antonio within 45 minutes
209 & 215 Cheatham Street have the location, zoning flexibility, and immediate development readiness for multiple revenue models- from resale of fee-simple units to rental income from multifamily or live-work units- and are positioned in a high-demand urban corridor poised for continued appreciation.
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MLS: SABOR, ABOR, CTX
Price: $950,000 (total for both parcels, sold together)
Square Feet: (≈ 0.65 acres total / ~28,000 sq ft combined)
Zoning: CD-5D (Downtown Character District)
Financing: Seller Financing Available
Location: Intersection of Cheatham & McKie Streets, South Square District – ½ mile to Downtown San Marcos Square, 1 mile to Texas State University, ⅓ mile to Rio Vista Park on the San Marcos River
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Two contiguous parcels totaling ~0.65 acres (0.456 + 0.191 acres)
High visibility where McKie dead-ends into Cheatham
Flat, mostly cleared, with private road
City water, wastewater, and electric available
Recent Survey on file
CD-5D zoning allows a variety of mixed-use, residential, and commercial uses
High-traffic corridor with quick access to I-35 and walkable to South Square nightlife
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Walkable to restaurants, shops, bars, and live-music venues (Patio Dolcetto, Triple Six Social, The Davenport)
Minutes to Downtown San Marcos shopping and Texas State University campus
Easy access to Rio Vista Park and the San Marcos River
Nearby multifamily and condo developments
Located within an emerging, pedestrian-friendly district encouraging mixed-use development
THE PHOTO GALLERY
Meet the Listing Agent
With years of experience in Central Texas real estate, I bring a thoughtful, grounded approach to every listing. I love helping clients understand their options, feel supported through each step, and find a home that truly fits their season of life.
If you’d like to tour this property or learn more about the neighborhood, I’d be happy to help. Simply click below to schedule a showing.